RBI rejects TDM Finance registration: The RBI has rejected the application for grant of certificate of registration submitted by TDM Finance Company located at Chavakkad in Thrissur district, Kerala. The application was rejected on October 17, 1998, as the company precluded from commencing business of a non-banking financial institution, an RBI release issued on Friday stated.

RBI rejects ATN Arihant registration: The RBI has rejected the application for certificate of registration submitted by Calcutta-based ATN Arihant International. "The company will not be able to transact the business of anon-banking financial institution as defined in Clause (A) of Section 45IA of the RBI Act," an RBI release issued on Friday stated.

14-day treasury bills auction: The RBI has kept the yield on 14-day treasury bills unchanged at 10.07 per cent. The central bank received seven bids worth Rs 395 crore out of which it accepted only four worth Rs 100 crore. There was no devolvement either on primary dealers or the central bank.

91-day treasury bills auction: The RBI has kept the yield on 91-day treasury bills unchanged at 10.07 per cent. For a notified amount of Rs 500 crore, the central bank received 17 bids worth Rs 586 crore out of which it accepted only seven bids worth Rs 112 crore. Rs 229 crore and Rs 159 crore devolved on the RBI and primary dealers respectively.

Three-day repos results: The RBI on Friday mopped up Rs 2,353 crore through three-day 8 per cent fixed-rate repos in government of India dated securities for parties holding SGL and current accounts. The central bankreceived 10 applications and accepted all of them.

Three-day repos today: The RBI has announced three-day 8 per cent fixed-rate repos in government of India dated securities on October 24, 1998, for parties holding SGL and current accounts. Payment by application will be on October 24, 1998, and reepurchase by the RBI on October 27, 1998.

National Insurance Company scheme: National Insurance Company on Friday announced the launch of ``Jalad Rahad Yojana'' scheme for speedy settlement of non-fatal accident claims for victims above 18 years. The company's assistant general manager TV Viswanathan said in Chennai hat the scheme would take effect from October 1. Payment in lieu of claims would be settled within a maximum period of three months, avoiding legal process that could take three to five years, he said.